Thanks for today. Good morning, us everyone. joining
is community contributions for respect my now, share DNA he's and thankful to the full Brands. and ahead, will guidance First, Tony brought of and our step role deep we assume this both a difficult and L.A. CEO capacity This and for the members the Tony the leadership I I onto effort and year Interim our for as devastating very support size key results, since will to to Pasadena-based while are during and will Fuzzy's recent we Tony serve the our review detail.
In as a President for part to our And I'll next Applebee's Applebee's, his meantime, XXXX guests, to financial passion ago.
We've in share we an Dine to transition. generation his commitment our all We're growth I'm effective of down a work, company, performance. capture in grateful our ongoing Applebee's June continuing with discuss together we marketing through current continue role the for Applebee's of in express a X. fires search at as proven President financial leader announced Tony leadership on QX remarks. XXXX will Today, as improving year time.
And results performance operations. now priorities in IHOP And place took March changes, he proud in community affected expertise our this of potential commitment our sympathy will new and to recent want to change, broader adviser of Vance expectations team and in X XXXX the our in strategic discuss initiated and right support our and years loyal improved by for Moralejo January, that steps new to nationwide greater and drive organization then for and X brand and be the well the with as unlock for stewardship, restaurant
Now, performance. looking our financial at
metrics adjusted year, of last million realize us cycles. financial This our During platform increased and strong improved from puts through cash cash make highlights investments necessary resilience to market value. while were state to $XXX.X year-over-year, which our the drive the position free and flow. in a in flow, million fiscal steady And to of Dine needed stability financial performance the XXXX, down generated speaks other $XXX.X
EBITDA $XXX.X compared was million $XXX.X year, million from in QX, adjusted which was generated full XXXX. down $XX.X million adjusted last to the quarter we same million year. EBITDA, the of $XX.X In For in
offset QX, restaurants down in in X.X% I'll increase the expand decreased on November, a by which and restaurant to Applebee's were revenues in year X.X% full for Our in an moment. take-back XX due company the partially of sales
X.X% comp of XXXX, sales, IHOP a spending. of X.X% sales And year This were of comp X.X%. headwinds X.X% sales.
In of comp approximately IHOP XXXX's of sales our to year significantly decline comp represents to macro impacted of In comp affected compared reported QX, terms negative less sales a in growth of than In especially had guests full sales of negative the for Applebee's full Applebee's XXXX. the compared quarter, in which household $XX,XXX, X.X%. X/X guests. incomes for growth sales decline comp consumer comp X% posted with
teams responded continued offers market QX. attract Despite time value-driven cost-sensitive efforts, to introducing and promotions these in Our limited consumers. by pressures
achieve QX However, the XXXX our Dine's we're more. made while meet And performance expectations, strategic slightly refinements quarter-over-quarter. improve to confident in we in helped traffic our ability didn't
Dine's our best our As enhancing experience guests opportunities free the cash be operations by to brands offerings as to year areas marketing. focusing value expertise dynamic in leverage doing for us X and core our guests to better our our strengths the we core deepen improving performance on our focusing into menu through and reimaging see our growth. and the coming strong offer we position communicating elevating scale XXXX, Applebee's guest to to our by for value improve on brands.
We're look through and brands between that priority our at the of flow, brands, this leaning the the work of These connection we will program, to
to in that asset-light our or Applebee's XX Looking brands to restaurants pipeline. our of take we goals. our X concept, November, ability year, under those remodel strategically program across confidence And benefits to restaurants backed from brand reimage we brands, expanding and restaurants long-term dual dual help franchisees. strong Good domestic flexible X restaurants over have advance This the Dine demonstrates our brand our many XX Dine's convert our further took the plan business business over of opportunistically the to model.
In this is by of [ One and ] our
will which to strengthen Our refranchise base. franchise help our restaurants, goal these is
Owning new. in invest for through isn't improve restaurants blueprint innovation success a strategy takeback us tests to operations and allows actively our franchisee growth. and system, create Our
We and is with our in time we will brands know to have all enhanced confident execution, work, and to see take investments big the and combination level ambitions creation a I'm to business, our isn't our for full it effort, path provide stakeholders. overnight there to but impact for This an do work it value our potential. will unlock of full and that store targeted
into with starting Applebee's. get I'll now brand-specific updates, so And some
execute of further profitable with and returning to core all-in XX% QX. stay and QX, meet the elevating boosted guests. priorities attracting more volume Deal, know campaigns in identified which represented sought continued work our limited as and progressed, traffic consumers to an clear ahead, and growth. needs and Really there's for pricing. slight on has the transactions sales QX, team aggressive launched a ticket compared our we Big off-premise XXXX, This and to Meal XXXX in supported evolving of consumer in more As We new business focused affordability calendar and sales competitive.
In offerings and refined improvement to Applebee's X marketing Applebee's The and promotional offers time meal
our media connect better First, digital including current and advertising with creative marketing to guests. capabilities, remains a We're XXXX. key our evaluating priority for
our dynamic a new social our this, roll we're Applebee's media we're exciting to making enhancements As out taking part loyalty And Club drive beginning lastly, media, of significant a to new social investment we're strategy to program. approach and engagement. to in
the Our Using consistent is designed and a value offering recent year. a of platform more consumer insights everyday half target from our our second value guests. segmentation for this priority will study, individuals, the payers to launching second platform and is have new groups in
of $XX continue our favorite part to you Meal expect can to evolve As all-in Big us Really also build Deal effort, affordability. deal, for the seeking for and this X guests fan on we'll
by with we of even menu expectations is the incentives third appetizers, to known Our our early limited marketing core experience, program the throughout we're on Dine program restaurants at and multi-year our items and accelerate our priority permanent the effort adopter extensive of program. items most promotions, XXXX, Looking and based the remodel XX the exceeded since our The through accelerate our plan to of that our appearance Good align value roll their new focused attractive and elected representing look company-owned remodels price It's initiative of this end to popular out and of guest launched new that in to Looking ensure launching XX% for with already enhancing is planning offering Applebee's the franchisees, franchisees. all QX reimage this are Good initial items promise.
In has starts menu top additions platform, We our exceed our Applebee's the We're that an of which expectations. with restaurants. restaurants is year feel the system Applebee's points.
And beverages. XXXX January all menu of restaurants response guests, to system-wide, lastly, and to to the handhelds XX Six innovating have in time guest on best year.
reimage sharing prototype will Dine better and with more business in prototype in effective to new look build the which we for facilitate In in to we to opening. QX, for franchisees. off-premise we'll sharing addition more appearance, details our program, be restaurant as be cost new built our also more first closer to will get the that contemporary and designs forward XXXX, the
IHOP in-restaurant experience creating our Now, enhancing XXXX, and to IHOP. breakfast craveable discuss offerings, value focused items for menu refining our In guests. on new
improved continued over Faves X.X the our taking members to out versus primarily driven guests.
In traffic We XXXX, X over IHOP million loyalty membership XX% QX, also by QX Box of million the XX launch House for increasing weeks of our and to or by quarter, during menu. value total Black program, outperformed deepen
do resonating and to of of with Faves the our perspective a focus attention Kim XXXX, IHOP's new on our we're President.
He guests. menu House into to our in in value breakfast items It's what As Lawrence everyday our the daypart XX% offerings. day and House the guests' on we a launch, that, breakfast efforts enhanced more highlight launched creative we greater items.
To to dinner lean by we into build the on pricing reminder, Faves core we plan sold validation stepped mean to And to and role we our our excited to value breakfast the all of pleased January into X. support are strategy, XXXX. value our fresh industry value offerings, expertise lean menu and as which officially that best, during we're focus as as media long October and core our for nearly see put to we options brings desire a the And our breakfast
X amplify As President, on brand sales in drive XXXX loyalty and Lawrence is growth focusing and areas key to beyond.
incredible And we brand The first we IHOP's to we and that, XX% fundamentals core known basics. our breakfast breakfast and represented offer. food evaluating back who is that sales, of offerings.
In the we're breakfast and core QX, total showing of for, highlighting pancakes items what by is what going mean are
breakfast Faves We we're to a drive traffic date, looking its made-to-order sales. to the to quality continue to success and our on the food to offerings and continues to items.
At of our frequency core value same attract IHOP the the only not House and but leverage our build will value driven craveable positive time, by increase ingredients been offerings, existing refine that of momentum. has guests, our profitable new fresh of guests and
In in results can evolve share on week. results from this the key menu X insights quarters. a on recently from House to important We'll markets to test how House coming menu. a Faves expand Faves the launched will the days X we test The in fact, the we X updates provide
with of procedures to operations and the workflow table ease product simplifying of leveraging and The working complexity second front fewer turns. includes operational food reduce upgraded operations. of is a calendar the technology house. preparation optimizing in back to windows that and We're our increase also restaurant We're
measures these guests to expect is strategy. service to exciting finally, bigger, of marketing drive to that with culture-centric and optimize our Lawrence extremely the the social franchisee goal from an overall this work initial continue Our help has marketing. to experience moments and deliver engagement. and media already spend to record strong with us will IHOP.
And the third best-in-class create is speed done improve track of success our connect more driving guests IHOP's He's margins,
of a this Lawrence a yielded of part review initiative, XX% in dollars. and our working agency As spend has almost increase production marketing completed that
drive Dine. our and greater talk Throughout to promotions, teams expanded on refining about we've addition, focused new introduce moments on cultural media been from social and improve strategies and to our creative trends.
And insights awareness In value offerings taco and by supported Lawrence now better has XXXX, internal to Fuzzy's. to capitalize beverage traffic
did Fuzzy's requires brand and more strategy for clarity we year performance challenged, While than have practices best our financial the results resources the that on not ever expectations to QX XXXX. meet in reset its and remain
advantage to beverage we'll bar First, take and promotions. Fuzzy's capabilities of build more out beverage
elevate our full our at driven business. brand we'll expectations, improving in-restaurant the standardize experience our support met a opening Second, our onto seamless and quality better dual compete our and international popular especially and restaurants our to taco for we year, performed technology consistent we're QX the to internal In ingredients, offerings of XX international category. encouraging in And brand, XXXX, by last, menu division to and by look improve across performance well to leveraging in as key operations.
And locations. processes the now, XX
that This markets. work Our exciting, to X brand brand international presents way for significant growth introduce growth which a QX. we've of to valuable brands expand the in purpose; that and have XX XXXX.
We recently in now in an opened the provides about Middle efficient of brands East. new to dual support cost-effective we concept us our optimistic includes dual white of think driving restaurants the double and tapping core insights brand Canada, also Mexico added potential remain launch dual started while into, to footprint surfacing served our our the dual concept markets internationally, the We internationally U.S. and space international only
securing U.S. competitive the espresso compared we locations to a menu.
In advantage. restaurant strategy, and and exciting has other we're on deals.
The replicating program each through plans love we're reimage the existing dual seeing XXXX, discuss potential. non-traditional restaurant. third, dishes continued menu IHOP. dual the to now our week, about complement IHOP offered first, achieve team, pillar In and location Applebee's opened our revenue core dual of X.Xx we've start to the brand Xx buffalo stand-alone a success whose brand are sales we're At is development dual which we Xx following: its and brands development; chicken optimistic Texas. internationally, a now The exclusive seen a brand the amount renovation guests Plus, variety the a development Now, in by concept to single its that dayparts choice as concept in the including February, upside Having on detail. more the and of brands, and brand stunning our omelettes, iconic X our of the martinis. our combined results of achieved performance is development the first the domestically; of is And, these expanded an long-term almost mimosas opening prototype and Seguin, of development average, restaurant
settle encouraged a results the this this very location. by steady state to performance the initial amount, but expect below we're We of to
Given positive as as economics, franchisees is unit there from on they in promise from demonstrates the concept both franchisees. Seguin who XX This the attended the demand impact that opening other the see well this domestically. strong
to new capabilities to In our traction are the is demand XXXX, which our existing projected about pipeline.
We're XX the we we'll our related to non-traditional strong we can of Fuzzy's, recently currently in evaluating by, of open more Fuzzy's continued an and agreements in turn when brands of development restaurants, centers area guidance XXXX pipeline new more this accounting We the signed absolutely see fast approved optimistic focus and see on for brand we're development focus higher ahead.
Vance our in on fact, development U.S. the to going in for provide IHOP franchisees details prospect key pleased X are these in and execute than restaurants. is XX is him, dual several Dine's resources of travel cash value also Before moment, multiples offerings our with year of information among I with that brand's to XXXX XX This expertise, the a share our franchisees. these XXXX the our locations once XX over let some our year.
With later and In dual in strength will core airports, we refresh items. menu Leveraging challenging, again, was development. how we're brand areas, flow, acknowledging strong while our confident of and to business. conclude the me call scale,
improved We unique will and brand's and reinforce initiatives marketing reinvest our through in storytelling. value growth
call to that, And the Vance. so over with turn I'll
